Our late fall 2016 global survey of IT and cybersecurity professionals has turned up some interesting trends for 2017, not the least of which is that more and more companies are and will be using multi-factor authentication to secure their data.

Information technology executives in small- and medium-sized companies as well as larger enterprises say technology trends including mobile, bring-your-own-devices, and cloud usage post their biggest security challenges as they head into 2017.

The survey also showed that about 7 of 10 respondents will spend at least 10 percent of their IT budgets on security in the new year, with a full 15 percent saying their budgets for IT security will be greater than 50% of their overall budget. That's an increase over the survey we conducted earlier in the year, when approximately 40% cited their IT security spending at between 0 percent and 9 percent of their budgets.

While public perception of IT security threats usually revolves around external hackers and slightly more than half of the respondents said external threats are a grave concern for them, roughly 44 percent of those surveyed by Versasec admitted they are more concerned about internal threats than external ones.

While larger enterprises are having greater success in combating IT security threats, their progress has emboldened many hackers to set their sights on SMEs, so it's encouraging that SMEs are deploying in greater numbers solutions such as smart cards, public key infrastructure, and biometrics so their data is not as vulnerable.

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